TDAX vs. QDTE

Last updated Jun 4, 2026

TDAX (TDAQ Lift ETF) and QDTE (Roundhill Innovation-100 0DTE Covered Call Strategy ETF) are both exchange-traded funds - TDAX is a Leveraged Equities fund actively managed by TappAlpha, while QDTE is a Derivative Income fund actively managed by Roundhill. Both are actively managed. Their correlation of 0.95 suggests significant overlap in exposure. TDAX charges 0.98%/yr vs 0.97%/yr for QDTE.

Performance

TDAX vs. QDTE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TDAQ Lift ETF (TDAX) and Roundhill Innovation-100 0DTE Covered Call Strategy ETF (QDTE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

TDAX

• 1D: -0.07%
• 1M: 13.80%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

QDTE

• 1D: -0.16%
• 1M: 8.99%
• YTD: 16.58%
• 6M: 16.20%
• 1Y: 40.36%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

TDAX vs. QDTE - Yearly Performance Comparison

	2026 (YTD)
TDAX TDAQ Lift ETF	21.51%
QDTE Roundhill Innovation-100 0DTE Covered Call Strategy ETF	14.87%

Correlation

The correlation between TDAX and QDTE is 0.95, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 8, 2026	0.95

Return for Risk

TDAX vs. QDTE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

QDTE

QDTE Risk / Return Rank: 78
QDTE Sharpe Ratio Rank: 82
QDTE Sortino Ratio Rank: 76
QDTE Omega Ratio Rank: 78
QDTE Calmar Ratio Rank: 77
QDTE Martin Ratio Rank: 80

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

TDAX vs. QDTE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TDAQ Lift ETF (TDAX) and Roundhill Innovation-100 0DTE Covered Call Strategy ETF (QDTE). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	TDAX	QDTE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.74	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.65	1.30	+1.35

Drawdowns

TDAX vs. QDTE - Drawdown Comparison

The maximum TDAX drawdown since its inception was -14.69%, smaller than the maximum QDTE drawdown of -22.86%. Use the drawdown chart below to compare losses from any high point for TDAX and QDTE.

Drawdown Indicators

	TDAX	QDTE	Difference
Max Drawdown Largest peak-to-trough decline	-14.69%	-22.86%	+8.17%
Max Drawdown (1Y) Largest decline over 1 year	—	-10.20%	—
Current Drawdown Current decline from peak	-0.07%	-0.16%	+0.09%
Average Drawdown Average peak-to-trough decline	-3.71%	-3.14%	-0.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.52%	—

Volatility

Volatility by Period

	TDAX	QDTE	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.75%	—
Volatility (6M) Calculated over the trailing 6-month period	—	11.01%	—
Volatility (1Y) Calculated over the trailing 1-year period	23.71%	14.81%	+8.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.71%	18.43%	+5.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.71%	18.43%	+5.28%

TDAX vs. QDTE - Expense Ratio Comparison

TDAX has a 0.98% expense ratio, which is higher than QDTE's 0.97% expense ratio.

Dividends

TDAX vs. QDTE - Dividend Comparison

TDAX's dividend yield for the trailing twelve months is around 7.40%, less than QDTE's 42.16% yield.

Position	TTM	2025	2024
QDTE Roundhill Innovation-100 0DTE Covered Call Strategy ETF	42.16%	49.49%	32.09%
TDAX TDAQ Lift ETF	7.40%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TDAX and QDTE in my portfolio?

With a correlation of 0.95, TDAX and QDTE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, TDAX or QDTE?

On fees, QDTE is cheaper at 0.97% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TDAX or QDTE?

QDTE is cheaper with a 0.97% expense ratio, compared with 0.98% for TDAX.

Which ETF pays a higher dividend yield, TDAX or QDTE?

QDTE has the higher dividend yield at 42.16%, compared with 7.40% for TDAX.

What is the main difference between TDAX and QDTE?

TDAX is categorized as Leveraged Equities, while QDTE is Derivative Income. They also come from different issuers: TappAlpha and Roundhill. Their fees differ too: 0.98% for TDAX and 0.97% for QDTE.